Will bitcoin replace gold?

[googs84]

Time changes everything, but bitcoin will never replace gold.
Crypto comes only in the form of currencies, but gold has many other forms, it get used in jewellery, Industries, electronics
even it has medicinal value.
Its also get used in dentistry. Still gold is the most liquid asset and get traded in most of the exchanges worldwide.
Liquidation of crytocurrencies needs infrastructure, wallet internet etc.
Gold glitter everywhere, it get en chased easily.
Many countries of the world are still using Gold Standard monetary systems, where old standard sets a fixed price for gold and buys and sells gold at that price.
That fixed price is used to determine the value of the currency.
Acceptance of bitcoins in such countries is quiet difficult.

[glanmarc]

I don't think so. Because gold is still the most precious thing for a person. and gold is used for making jewelries, accesories etc. and bitcoin cannot do that. But in terms of value of bitcoin and gold. Gold has a high price than bitcoin.

[gribble]

Nothing will replace gold but i think bitcoin will be able to get a higher value than gold because more people are investing in bitcoin and you can't really buy things with gold but with bitcoin you can buy anything you want.

I agree with you, in terms of value bitcoin will come out the winner because it has a fast growing user base and is easily accessable but I believe bitcoin was not made to disrupt the existence of gold which is a natural resource that is usually used as a sysmbol of wealth unlike bitcoin which had several uses such as a store of value or can be used as an alterrnative to fiat for everyday transactions.

Bitcoin look like as a digital asset than a digital currency. I believe with the current value of Bitcoin, no one wants to uses it to pay the food bill or electric bill. Pay these things through Bitcoin just makes us waste our Bitcoin for the transaction fees useless.

Yes one of reason bitcoin is still difficult to be currency and be used for payment method is due to the high fees transaction, it is not good for small amount of payment, the ecosystem of bitcoin is trying to solving this problem include the bitcoin hard fork, lighting network on bitcoin and other, for right now bitcoin is good for digital asset than currency and bitcoin won't replace the gold, bitcoin and gold will run together as instrument of investment.

[3Books]

Bitcoin and gold are essentially two separate platforms in the sense that there are different factors which affect the demand of each unit. I believe they will both remain in circulation. Gold is not only in demand because of the economic value there are many additional uses for golds physical components.

[xiaomingdada]

Yes, the gold has been recognized by the world, the existence of valuable, bit as a virtual currency, I do not think he can replace gold.

[irfanmalik04]

Dollars or banking system is very organized and systematic and due to security reasons mostly trust on them, undoubtedly bitcoin now becoming the popular currency and its convincing people to buy coins but we needs consistency in this work then we can be totally involved in bitcoin. Sudden Bitcoin fluctuations are not comfortable

[real_links]

I dont think so. In the end game Gold is still a precious metal and a beautiful thing in the eyes of a person. Bitcoin is a different story as it is a very good way to make transactions so as for the better currency the bitcoin would be best of two as for my opinion.

For me its impossible, the value of gold rarely or never depreciates But maybe tomorrow china comes again, you would see the big drop in value

[sergio red]

It is difficult to predict about this comparison, I don't think that Bitcoin is going to take the place of gold. Since Gold is one of the precious things and it has been used for the ancient time. Though Bitcoin is becoming a valuable currency at present, Bitcoin will not be the replacement of it because of availability. there is another reason is the credibility.

[sabarr]

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

I don't think so, because gold or bitcoin has its own fans, for some people gold is still the best place for their investment and some people also consider that bitcoin is the best investment

[family934]

It is difficult to predict about this comparison, I don't think that Bitcoin is going to take the place of gold. Since Gold is one of the precious things and it has been used for the ancient time. Though Bitcoin is becoming a valuable currency at present, Bitcoin will not be the replacement of it because of availability. there is another reason is the credibility.

according to my opinion bitcoin will off course replace gold because the rate of bitcoin is very high from gold and still increasing so now people is starting investing in bitcoin rather than gold because their is more profit while working with bitcoin rather than gold.

[Reid]

It is difficult to predict about this comparison, I don't think that Bitcoin is going to take the place of gold. Since Gold is one of the precious things and it has been used for the ancient time. Though Bitcoin is becoming a valuable currency at present, Bitcoin will not be the replacement of it because of availability. there is another reason is the credibility.

according to my opinion bitcoin will off course replace gold because the rate of bitcoin is very high from gold and still increasing so now people is starting investing in bitcoin rather than gold because their is more profit while working with bitcoin rather than gold.

Okay that is your opinion but I dont think that will happen. Both have their own identity and it is a big difference.
First of all people are loves the worldly things, it should be seen physically before they will believe it.
It will be more valuable if people believe it is true and gold have that all unlike bitcoin.

Dont get me wrong but I am just stating the facts. It is better that this two will have different things to do for the people rather than being compared

[0t3p0t]

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

I don't think if Bitcoin can replace gold because it has different characteristics, usage and purpose of existence. In terms of price Bitcoin can totally leave gold's value in the future but I think a physical, stable and centralized asset cannot be replaced by a digital, volatile, community driven and decentralized asset. If we are going to look at  these assets I would rather give a perfect comparison like fire versus water. Though both assets are valuable so I think you are lucky enough if you hold both today because I believe it will be the most valuable assets in the near future. I would rather believe that gold will soon replace fiat money because highly developed countries are now supporting it's national currency value with gold reserve.

[pikebu]

I don't think bitcoin will replace the gold as instrument of investment because gold is very old than the bitcoin, will be hard to bitcoin replace the gold, especially many people around the who don't know about the bitcoin and many people consider that bitcoin is just games on internet, some people said that bitcoin is Ponzi and related with crime activity than be learned as technology behind of the blockchain.

[eddyhalim]

Bitcoin is just a digital currency, has not been regconized by the world, it just a new kind of currency, however gold is real commodity to the world, people have used gold for thousand years. So bitcoin will never be able to replace gold.

[helars2008]

I dont think so.
Gold will always be preferred by investors especially when it comes to security.
Gold's value will always appreciate,  unlike bitcoin that is very volatile.

[sadiaakhter25]

Gold and Bitcoin are two different valuable assets and both are having their own trading market but Bitcoin is like the digital version of gold. Gold is a low earning stable investment but bitcoin is highly volatile that's why i agree this term of replacing gold by bitcoin.

[AndriyPilipyak]

nowadays I think no, maybe in future when investors with is investing in gold now will change and prefer btc,it can be 2 different asetts,when people will understand and world support btc,governments btc will be number 1 asset for all people

[Portia12]

Gold in general is no better. The value of gold is nothing more than a result of a global consensus - at the moment everyone agrees to consider gold a measure of value, simply because this measure is in some form or another necessary. If we assume a utopian situation, that tomorrow everyone agrees that gold is not such a measure, then it will be good only for the production of quality wires and trinkets.
The btc is gaining momentum for exactly the same reason - the global consensus towards the btc is constantly being strengthened. In this case, unlike gold, the cue-ball is not only a measure of value, but also a settlement system, and gold is not a competitor for this parameter.

Maybe very soon or in the future, gold is more famous than botcoin because it come first and use it in trading since old times but bitcoin exist 2004 i think. In price i think bitcoin is more expensive than gold.

[GorillaDental]

Yes, because bitcoin can continue to evolve/improve and is finite while gold cannot and will continue to be mined either from earth or space.

[Sithara007]

Gold and Bitcoin are two different valuable assets and both are having their own trading market but Bitcoin is like the digital version of gold. Gold is a low earning stable investment but bitcoin is highly volatile that's why i agree this term of replacing gold by bitcoin.

I will not say that Bitcoin is the digital version of gold. Because gold is a low-risk asset, which is useful for protecting the net wealth. The equivalent digital versions may be Gold ETFs and United States Treasury bonds. On the other hand, Bitcoin is a high-risk asset, which is normally used for multiplying your wealth.